11 Jun Expand upon the Module 2 paper located within the attachment section and determine how your airline Voyage Airlines’ will optimize airline revenue. This will be
Expand upon the Module 2 paper located within the attachment section and determine how your airline “Voyage Airlines" will optimize airline revenue.
This will be an expansion of your assignment in Module 2, however, in this assignment, you will focus on specific ways that you can optimize airline revenue.
Please be creative and feel free to think outside the box! This discussion should include specifics on determining the impact of airline revenue related to pricing strategies and profit maximization designed to gain market share, increase product development, and penetrate new markets, airline operations, customer impact, staffing models, etc.
Be detailed with your explanations.
This paper must be 2-3 pages not including the title page and the reference page. Also, include at least 3 references with one being a peer-reviewed reference. Use current APA format and cite all references.
· All references, including your peer-reviewed article, should be cited in the text of the assignment and on the reference page.
Build your Airline
June 5, 2022
Build your Airline
1. The basics
The mock airline to be presented goes by the name Voyage Airlines an airline in aviation history founded by several friends’ entrepreneurs. We got our start in 2011, and ever since then, we've been steadily growing our business. Our company's mission statement may be summed up as "to inspire excellence and dedication." We at Voyage Airline are quite proud of the fact that we are the most reputable airline of our kind on the West Coast. Our fleet is comprised of a total of 200 different aircraft. Voyage Airlines was founded by two male friends who identified; nevertheless, our staff members come from a diverse range of racial backgrounds and gender expressions. Due to the fact that we are modeled after Delta Airlines, we do not have a unionized workforce.
In addition to Hilton Head International Airport, Voyage Airlines has hubs on the west coast in the cities of Los Angeles, San Diego, San Jose, San Francisco, and San Bernardino; in the Caribbean, the airline has bases in San Juan, Puerto Rico, and Santo Domingo. Our ability to fly into and out of foreign airports has substantially increased the number of possibilities we have for traveling to other countries. Domestic travelers will also find them to be helpful in a variety of situations.
2. Airline's overall revenue focus.
The well-being of those present will always come before any other concerns. This suggests that funding for safety will come first, followed by funding for other activities in descending order of importance. Voyage Airlines is going to provide a sufficient amount of money to their budget in order to guarantee the security of their flights. As part of this process, you will need to do equipment maintenance, instruct crew members on proper safety procedures, and run drills to identify potential hazards.
Utilizing location information is one strategy that may be used to increase a company's share of the market. When we gave some thought to these issues, we arrived at the following conclusion: In which cities do they spend the most of their time? Which kinds of travel do they participate in? As a direct consequence of this, we located our hubs in popular tourist areas. Places such as Los Angeles and San Diego attract a sizable tourist population comprised mostly of individuals from different nations and cities. On the other side, the cities of San Francisco, San Jose, and San Bernardino are located in closer proximity to a number of the most well-known beaches in the state. Airlines must make the necessary adjustments and investments in data analytics and location technologies in order to construct customer experiences that are in accordance with the needs of their customers (Vinod, 2019).
By focusing on the locations of our consumers, we can develop hubs that are more conveniently located for them. When a client has traveled with us in the past and enjoyed themselves, they are more likely to want to book another trip with us in the future. The demands of travelers make it necessary for Voyage Airlines to broaden its market reach. Because of the funds we get for new projects, such as the establishment of a new hub, we are in a position to successfully complete this task.
On every one of our domestic flights, including those to Los Angeles and San Diego, we provide you the choice to travel in our business class section. On the other hand, the vast majority of our passengers are traveling for pleasure and are en route to the coast or one of our foreign borders. Despite the fact that our local routes make up the majority of our business, our international flights continue to be profitable. Voyage Airlines operates flights throughout the year; however, we see a marked increase in passenger volume during the Christmas season and throughout the summer vacation period. Our Los Angeles hub is the most popular throughout the spring and summer months, outperforming both our San Jose and San Francisco hubs. Because of the large number of snowbirds who visit throughout the winter, San Francisco is the most popular winter destination in the city.
The destinations that customers request are used to develop Voyage Airlines' route map. As a direct consequence of this, it is subject to ongoing change during the course of the year. According to the demand that we notice throughout certain periods of the year, we increase the number of flights to San Francisco during the winter, San Jose during the spring, San Bernardino during the summer, and so on. Domestically as well as internationally, we often provide on-demand aircraft service to our sibling hubs that are located on the other side of the ocean. The arrangement, on its whole, is comparable to a continuous flow of aircraft between our hubs.
The primary focus of Voyage Airlines is on achieving the goals outlined in the company's mission statement. We don't just say it as a slogan; rather, it is the driving force behind all we do: "Inspiring Excellence and Hard Work." At Great Travel, we are very proud of the commitment we have made to providing excellent customer service and quality training. Our ambition to expand and provide superior service to our patrons is the source of our enthusiasm.
Vinod, B. (2021). Influence of Revenue Management on the Airline Business Process. The Evolution of Yield Management in the Airline Industry, 293-312.